Monthly S&P500 futures candlestick chart:9 bar micro channel The monthly S&P500 cash index is at a measured move up from the 2002 and 2009 double bottom. Every bar for the past 9 bars on the monthly chart has a low at or above the low of the prior month (cannot see on this bar chart). […]
Emini risk from low volatility, algorithms, and central banks
Unemployment report is catalyst for Emini breakout
Intraday market update: August 4, 2017
Unemployment report is catalyst for Emini breakout Updated 6:55 a.m. The Emini gapped up and rallied on the open, but the 1st 3 bull bars had prominent tails on top. While the Emini is Always In Long, this is weak buying. If the bulls do not get a big bull bar closing on its high […]
Emini is ignoring Trump China, North Korea, and Russia sanctions
Intraday market update: August 3, 2017
Emini is ignoring Trump China, North Korea, and Russia sanctions Updated 6:46 a.m. Yesterday ended with a small wedge. Therefore the odds favor 2 legs sideways to down. Since the wedge was only 4 points tall, the odds are that the open will be mostly sideways. The bottom of the wedge is around the 60 […]
Emini awaiting catalyst to begin 5% September correction
Intraday market update: August 2, 2017
Emini awaiting catalyst to begin 5% September correction Updated 6:53 a.m. Today began with a failed breakout above yesterday’s high. Yet, the sell signal bar was a bull trend bar. Because this is a weak sell signal and limit orders bulls made money buying the close of the 1st bar, the odds favor an early […]
August and September are seasonally weak in Emini
Intraday market update: August 1, 2017
August and September are seasonally weak in Emini Updated 6:52 a.m. The Emini reversed down from yesterday’s high with 2 bear bars. While there is still a 2 week head and shoulders top on the 60 minute chart, the bears need a strong reversal down before traders believe that they have taken control. The 1st […]
Emini buy climax needs sell signal and trend reversal
Intraday market update: July 31, 2017
Emini buy climax needs sell signal and trend reversal Updated 6:53 a.m. The bear ioi sell signal on the open is a 2nd failed breakout above yesterday’s high. This is therefore a reasonable swing short for the high of the day. Yet, the small bars make an early trading range likely, whether or not this […]
Trump healthcare failure is catalyst in buy climax, but no top yet
Emini weekend update: July 29, 2017
Monthly S&P500 Emini futures candlestick chart:Strong bull trend, but parabolic wedge buy climax The monthly S&P500 Emini futures candlestick chart had its 3rd consecutive bull trend bar after the April High 1 buy signal bar. However, the 18 month rally is in a tight bull channel and has had 3 legs up. This is therefore […]
Trump’s White House shakeup is catalyst for correction
Intraday market update: July 28, 2017
Trump’s White House shakeup is catalyst for correction Updated 6:45 a.m. The Emini opened around the open of the week, which will probably be a magnet all day. This is especially true in the final hour. Yesterday’s reversal creates confusion and makes traders cautious. They prefer to buy low, sell high, and take quick profits. […]
Emini buy climax continuing higher and is ignoring Trump
Intraday market update: July 27, 2017
Emini buy climax continuing higher and is ignoring Trump Updated 6:44 a.m. The Emini gapped above yesterday’s high and immediately sold off again. Many days lately have had early selloffs. Yet, most reversed back up later in the day. Furthermore, the weak follow-through selling today increases the chances of another trading range open. In addition, […]
Emini catalysts are FOMC report, healthcare repeal, Mueller, and Sessions
Intraday market update: July 26, 2017
Emini catalysts are FOMC report, healthcare repeal, Mueller, and Sessions Updated 6:53 a.m. Since yesterday was a small trading range day, there is an increased chance that it could lead to a measured move up or down today. However, the Emini has early trading range price action. It reversed down from a test of yesterday’s […]